Global Portable Medical Devices Market: Overview
Portable medical devices comprise curative and diagnostic medical devices are smaller and easy to handle without facing any inconveniences. Recently, the healthcare sector has evolved on a large scale owing to miniaturization of the medical components. These medical devices are equipped with portable technologies has greatly impacted the medical industries. Globalization has opened up new growth opportunities in telemedicine, home care, remote monitoring, and connectivity sectors. Some strict regulations set by the government in order to investigate re-hospitalization may penalize medical expert along with the hospital if fail to followed the same. Hence, portable medical devices emerged as a reliable product to reduce healthcare expenditure and freeing beds for serious patients. Some of the medical devices available today in the market are heart rate monitors, pacemakers, dialyzers, electrocardiographs, and defibrillators.
Global Portable Medical Devices Market: Growth Factors
Several factors that are responsible for the growth in portable devices are increasing diagnostics requirement in the remote areas where the large population continues to reside. In addition, emerging need for emergency medical services such as medical transport, helicopters, and ambulances are also needed to be well equipped for people and geriatric population, who feel hectic while traveling back and forth from hospitals from diagnostic procedures. This is anticipated to boost the global portable medical devices market growth. Increasing requirement of military medicine in field applications also fuels the global market. The emergence of the smart and wearable medical devices may account for the largest market share in the coming years. However, higher prices associated with the healthcare industries restrain the global portable medical devices market growth. Portable medical devices have analyzed and perceived market and introduced several medical devices for various aspects such as neurological, neurological, cardiovascular, urological, and others; this is positively impacting the global market growth.
Global Portable Medical Devices Market: Segmentation
The global portable medical devices market is divided based on the applications as neurological, cardiovascular, urological, and others. Based on the product, the global market is fragmented as dialyzers, defibrillators, electrocardiographs, heart rate monitors, and others.
Global Portable Medical Devices Market: Regional Analysis
Government initiatives in North America will reduce the hospitalization time for patients; this is anticipated to propel the global portable medical devices market growth. Europe is following the same trend owing to increasing use of portable medical devices which in turn may foster the global market growth in future in this region. Moreover, Asia Pacific is emerging as a lucrative market for the portable medical devices market. In addition, unmet medical needs and innovative technological advancements are projected to propel the global market in Asia Pacific. In addition, favorable government initiatives and improved reimbursement policies are also anticipated to enhance the global market growth.
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Global Portable Medical Devices Market: Competitive Players
Major players in the global portable medical device market are Texas Instruments, Philips Healthcare, Covidien Plc, Natus Medical, and Carefusion Corporation. Other key players include Qualcomm, GE Healthcare, Samsung, Roche Diagnostics, and Medtronic.
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